We just moved several meters closer to the edge of a cosmic abyss and no one is calling for a time out.
Last year the BRIC countries (Brazil, Russia, India, China) quietly established the Asian Infrastructure Investment Bank (AIIB) as a counterweight to the US/UK controlled International Monetary Fund (IMF) and . . . → Read More: Cowichan Conversations: Maroc–We Just Moved Several Meters Closer to the Edge of a Cosmic Abyss
Forget about China. The greatest driver of runaway global warming may be India. While the EU, the US and China are gearing up for major cuts in CO2 emissions, India is heading in the other direction and fast.
“India’s development imperatives cannot be sacrificed at the altar of potential climate changes many years in . . . → Read More: The Disaffected Lib: India Doing Its Bit to Burn the Planet
Oil and gas companies get a ton of subsidies from governments which holds back the adoption of renewable energy. In most countries, the gas industry is supported by policies encourage car use and other related infrastructure decisions. Sometimes, like in Morocco, fuel is directly subsidized and recently the country found that it was just too . . . → Read More: Things Are Good: Morocco Leads in Cutting Subsidies to Oil and Gas Industries
This piece was originally published at the Globe and Mail’s online Report on Business feature, EconomyLab.
There are two reasons why it is difficult to comment on the legacy of a finance minister.
1) It is a tremendously challenging job, anywhere, any time. Stewarding one of the largest economies in the world through a . . . → Read More: The Progressive Economics Forum: Flaherty’s Legacy: Ideological, reckless and just plain lucky
GO workers wait ahead of announcement from Ontario government about green bonds (Oct. 30, 2013)
Ontario made a small splash in the financial world at the end of October when Premier Kathleen Wynne and two top cabinet ministers announced the province was set to become the first Canadian jurisdiction to issue “green bonds,” . . . → Read More: the reeves report: Ontario to roll out Green Bonds in 2014
“If you think mitigated climate change is expensive, try unmitigated climate change.” Dr. Richard Gammon, University of Washington, speaking to the US Congress, June 28, 1999 * * Economic losses from extreme weather events have risen from an annual global average of about $50 billion in the 1980s to close to $200 billion over the . . . → Read More: 350 or bust: Cost of Extreme Weather Up 300% Since 1980s
Jim Yong Kim and Obama
In a stunning move, the newly-elected President of the World Bank has launched one of the most significant steps in human history to reduce greenhouse gas emissions. Supported by President Obama, Jim Yong Kim has persuaded the World Bank to move away from funding one of the worst polluting . . . → Read More: CuriosityCat: Global Warming and Coal: The Man who might save the Earth
This and that for your Thursday reading.
– Paul Krugman writes that the only real difference between the latest global crisis and past depressions is that we’ve moved further and further toward a rent-based economy – meaning that aggregated growth doesn’t necessarily result in any benefit for the vast majority of people: (T)here is at . . . → Read More: Accidental Deliberations: Thursday Morning Links
A World Bank report released today warns the world is heading for 4C of warming this century and that means trouble for everybody but especially if you’re one of the nobodies from the poorest and most vulnerable countries.There it is, the whole report … . . . → Read More: The Disaffected Lib: World Bank – Says What Everybody Knows, We’re in Trouble
Governments around the world are heading down a path to economic suicide. So said Nobel Prize-winning former chief economist of the World Bank, Joseph Stiglitz, to hundreds of well-heeled financiers and decision-makers who paid a bundle to hear him in Toronto. With a voice as gruff as gravel, and an energy bristling with urgency, he […] . . . → Read More: The Progressive Economics Forum: Austerity Kills: Conservative cure worst thing for what ails the economy says Stiglitz
Oil_Money.jpg Global financial institutions including the International Monetary Fund and the World Bank have released a new set of recommendations for G20 countries to meet their goal of providi… . . . → Read More: DeSmogBlog: Global Financial Leaders Recommend Cutting Fossil Fuel Subsidies
(The following was sent by ITUC Washington representative Peter Bakvis and deserves wider distribution.) In partnership with Wall Street investment bank JP Morgan, the World Bank has launched a food commodity hedging facility that is supposed to provide “$4 billion in protection from volatile food prices for farmers, food producers, and consumers in developing countries”. […] . . . → Read More: The Progressive Economics Forum: World Bank Joint Ventures With JP Morgan
Earlier this month, I served as the discussant for a presentation by Engelbert Stockhammer, an economics professor from Kingston University in London. He was speaking at a conference organized by the workers’ representation to the International Labour Organization (ACTRAV). Stockhammer reviewed two antithetical strategies for economic growth. The pro-labour strategy aims to increase wages by […] . . . → Read More: The Progressive Economics Forum: Do Wages or Profits Lead Growth?
It was former London Mayor Ken Livingstone who started the ball rolling in 2007 when he announced that “Urban areas are responsible for over 75 per cent of greenhouse gas emissions, so the battle to prevent catastrophic climate change will be won or … . . . → Read More: openalex: The Big Picture Approach to Cities and Climate Change